Casino operator Wynn Resorts has announced that its general counsel and executive vice president Kim Sinatra will be resigning from the company effective July 15, 2018.
Wynn Resorts did not give a reason for her departure, and only said that Ms. Sinatra and the company has not finalized the terms of her transition and departure.
Sinatra, 58, joined the company in 2004, becoming the company’s general counsel in 2006. She has been considered the No. 2 at Wynn Resorts after CEO Matt Maddox.
Her departure comes at a time when regulators are continuing their investigation into the company’s handling of Steve Wynn’s sexual harassment scandal.
Replacing Sinatra is the company’s new general counsel, Ellen Whittemore, according to a report from Wall Street Journal, which cited unnamed sources.
The company itself has declined to comment about any successor to Ms. Sinatra.
As the Covid-19 crisis descended upon, first, China, then the world, the six Macau operators have not been idle in their CSR efforts, in spite of the mandated casino closures and reopenings under difficult economic conditions.
This pandemic has changed the lives of many Macanese and millions of others globally. In this part of the world, we have moved from controlling its proliferation to managing a potential deep economic fallout as a result of it.
Macau's six operators are expected to post a collective EBITDA loss of $823 million for Q3, improving from a loss of $1 billion in Q2, according to a Bloomberg poll of analysts.
Wynn Resorts has announced the appointment of Darnell Strom as an independent director to its board, effective October 14.
While most of the world continues to grapple with the economic fallout from Covid-19, figures released Monday indicate China has left the worst of the pandemic behind, with gross domestic product growth of 4.9 percent in Q3.
Macau-related casino stocks took a hit on the news that China's legislature was reviewing an amendment to the country's criminal law that could establish a new criminal definition for overseas gambling operations aimed at luring Chinese citizens.
Wynn Resorts has warned that the rising tensions between the U.S. and China could negatively impact its business prospects, including its ability to communicate with customers.
Wynn Macau doesn’t foresee Macau’s six operators undertaking a major marketing push or promotional push to win back clients and expects there to be plenty of business once travel resumes.
Wynn Resorts reported Q2 financial results that were grimmer than expected, with group-wide operating revenues down 94.8 percent. Between April and June, operating revenues came in at only US$85.7 million, causing a US$638 million net loss attributable to the company. In Macau, Wynn Palace recorded only US$8.7 million in operating revenues, a 98.6 percent drop […]
Wynn Resorts is closing its Yokohama office due to the impact of the Covid-19 crisis on the integrated resort business, though says long term it’s still interested in Japan.